GFW and wrestling business models

So to date GFW is an enigma wrapped in a riddle wrapped in a six-sided ring. One thing does seem clear though: Jeff Jarrett is aiming for "number two wrestling promotion" status right off the bat. Everything about his interviews, the marketing of the brand, and the "best free agents available" roster suggest as much.

My question is why take this approach? Haven't TNA definitively proven there's no money to be made in maintaining the illusion you're on the same level as WWE – that it costs too much money and the interest doesn't exist to be a meaningful no. 2? Meanwhile, haven't the likes of ROH and Chikara shown it's possible to build a dedicated fanbase as long as you keep your ambitions realistic? Has Jarrett somehow convinced himself that another boom period is just around the corner?

​This is the same guy who thought that weekly wrestling PPVs would revolutionize the business.  And we still don't know what his supposed 13 weeks of TV tapings are supporting, since he doesn't have a TV deal.  And why associate yourself with a loser brand like TNA that's getting cancelled anyway?  I don't understand a single move he's made so far, to be honest.  ​